Merchant Growth is making e-commerce financing available, in response to the increased demand in online businesses in Canada due to COVID-19. The organization is a financial technology lending company, based in Canada. Merchant Growth specializes in financing small businesses, often using the most current technology available.
During COVID-19 e-commerce sales in Canada have increased by 126%, and Merchant Growth will provide businesses with the necessary financing to transition sales online. Businesses who meet the requirements may be able to secure $5,000-500,000 of capital.
David Gens, the Founder and CEO of Merchant Growth, spoke about the funding, "It’s more important than ever that Canada’s digital businesses have quick and easy access to funds, so they can focus on growing and adapting their businesses. The funding we’re able to provide is well suited for scaling activities such as digital marketing, customer acquisition or purchasing inventory at reduced rates."
E-Commerce Financing Initiatives
Merchant Growth is Distributing E-Commerce Funding Due to Demand
Trend Themes
1. Increased E-commerce Demand - The surge in e-commerce demand due to COVID-19 presents opportunities for businesses to meet consumer needs through online platforms.
2. E-commerce Financing Solutions - The introduction of e-commerce financing initiatives, like those provided by Merchant Growth, offers the potential for businesses to access the capital needed for transitioning sales online.
3. Technology-driven Small Business Financing - Financial technology lending companies, such as Merchant Growth, are utilizing current technologies to provide small businesses with efficient and convenient financing solutions.
Industry Implications
1. E-commerce - The e-commerce industry can benefit from e-commerce financing initiatives to support businesses in adapting to increased demand and expand their online presence.
2. Fintech - The FinTech industry has an opportunity to leverage technology-driven financing models to cater specifically to small businesses and facilitate their growth in the digital landscape.
3. Digital Marketing - The digital marketing industry can explore innovative approaches and strategies to help businesses effectively utilize e-commerce financing for activities such as customer acquisition and scaling their online presence.